A glimmer of hope for property issuers from the explosion in commodity prices
Improved sales do not necessarily boost the rate of property shares that are listed on the Indonesia Stock Exchange (IDX).
Which issuers can investors still consider collecting? Based on data from the Indonesia Stock Exchange (IDX), the property and real estate index was corrected by 15.95 percent. The record was the worst compared to other stock sectors. The property and real estate index also lags far behind the Composite Stock Price Index (JCI) which rose 1.49 percent year to date (ytd). The technology sector index became the motor of movement, rising 873.28 percent. Through research published through Bloomberg, MNC Sekuritas analyst Muhamad Rudy Setiawan reviews some of the latest news from the property sector. Rudy noted that property issuers were able to record strong pre-sales income or marketing sales in the first quarter of 2021. PT Ciputra Development Tbk. (CTRA) posted growth of 67 percent year on year (yoy), followed by PT Bumi Serpong Damai Tbk. (BSDE) 40 percent yoy, PT Summarecon Agung Tbk. (SMRA) 50 percent yoy, and PT Pakuwon Jati Tbk. (PWON) 17 percent yoy. "Sales of the lower-middle segment are one of the triggers for marketing sales growth, continuing the trend in the third quarter of 2020 and the fourth quarter of 2020 which also experienced a positive trend," he explained.
|•SOURCE•| Image :OBLIGASI |
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